COLUMBIA, Tenn. – Maury Regional Medical Center (MRMC) and Hull Storey Gibson Companies, LLC (HSG) announced today that the medical center has signed a lease for 33,537 square feet in the Columbia Mall.

According to MRMC Chief Executive Officer Robert Otwell, the space will be home to MRMC physician group Columbia Oncology and outpatient intravenous (IV) therapy services. The project, recently approved by the MRMC Board of Trustees, will result in an estimated $2.5 million investment, including construction and equipment, and will be located in the space at the back of the mall facing Wal-Mart.

“As our patient volumes have grown, so has our need for additional space. Partnering with HSG was advantageous for the medical center because it was less expensive than building a new building from the ground up, was located in an excellent area close to the medical center and provided an opportunity to work with a company that is mutually interested in the economic development of our community,” said Otwell.

Site preparation is expected to begin in October with renovations to the exterior of the building, including roofing, new heat and air units, relocating the primary entrance and installing additional windows. This phase is expected to take approximately 90 days. Once exterior work is complete, MRMC will begin interior renovations. The anticipated occupancy date is June 2012.

James M. Hull of HSG said, “This will be the first step in the redevelopment of the property as a first-class mixed use facility. Great communities foster partnerships and collaborations between and among various stakeholders that allows for smart and accretive growth and Maury Regional partnering with us to locate at Columbia Mall is a tangible result.”

HSG plans to redevelop and renovate the remaining property as a first-class retail space, which will be executed in stages as current tenants are relocated. Hull indicated that the planning of the retail redevelopment will be completed in 2012 with execution of the redevelopment plan to begin in 2013.

About Maury Regional Medical Center:

Maury Regional Medical Center is a 275-bed facility that serves more than 260,000 people in southern Middle Tennessee and has a medical staff of more than 185 physicians. From a comprehensive interventional and surgical heart program with chest pain center accreditation to a neonatal intensive care and cancer center, the medical center offers a wide range of advanced services. In the past three years, the medical center has been recognized as a 10 Top Health System, 100 Top Hospital, Premier Award for Quality winner and Excellence Award winner by the Tennessee Center for Performance Excellence. For more information, visit mauryregional.com.

About Hull Storey Gibson Companies, LLC:

Hull Storey Gibson Companies, LLC is headquartered in Augusta, Georgia, and is one of the largest owners of retail properties in the Southeast with a portfolio of over 11.5 million square feet, including 17 enclosed malls in North and South Carolina, Georgia, Alabama, Tennessee, Texas and Florida. Hull Storey Gibson has a consistent record of property redevelopment and improvement as well as a demonstrated commitment to building strong community relationships to foster economic development. For more information, visit hullstoreygibson.com.